Not upheld: scam / fraud - failure to prevent investment scam complaint against Revolut Ltd

Decision detail

Summary

Mr M lost £15,000 to an investment scam after making three payments via his Revolut account to a crypto exchange between July-August 2025. He requested Revolut refund the money, arguing the firm should have done more to prevent the scam. While the ombudsman found Revolut should have intervened more during payments 1 and 2 with additional questions and tailored warnings, it concluded that such proportionate intervention would not have stopped the scam, as Mr M ignored Revolut's initial warning and likely would have provided misleading answers to additional questions. The complaint was not upheld as Revolut cannot be fairly held liable for the loss.

The Ombudsman's reasoning

While Revolut should have intervened more during payments 1 and 2 with additional questions and tailored warnings, the ombudsman found that proportionate intervention would not have stopped the scam. Mr M ignored the initial warning despite it containing relevant scam indicators, and likely would have provided similar misleading answers to additional questions as he did to the crypto exchange. Revolut has no obligation to refund under reimbursement schemes as funds were sent to accounts in Mr M's name via crypto transfers.

How this compares

Source

Read the original decision on the Financial Ombudsman Service website